Was There a Summer Slowdown, and How Should Sellers and Buyers Approach the End of the Year?
August cooled off: closings down 8 percent and months of supply up to 5.9. Prices are still ahead year over year, and the balance has tilted toward buyers. What that means for both sides heading into the end of the year.
Published July 14, 2026 · 4 min read
Unlike the sweltering Nashville heat index during the month of August, the housing market experienced a cooling period. According to MLS RealTracs, the number of transactions closed in August was down by 8 percent and months of supply crept up by 8 percent to 5.9, which translates into fewer homes being sold and houses staying on the market a little longer.
Still, the last 12 months show that Nashville homeowners saw a gain of 10.5 percent, with the average home price landing at $946,847.
Redfin recently reported that 30 percent of Nashville's home listings experienced a reduction in list price. Add to this the fact that buyers have more homes to choose from and generally are receiving favorable seller incentives, and you have a market that tilts in favor of the homebuyer.
However, even while homebuyers have many advantages, home prices remain a challenge for some of them. Interest rates have remained steady in the last few months and today hover around 6.5 percent, which handily beats the 50-year average of 7.7 percent (Mortgage Reports).
Approaching the market
If you are a home seller, the best opportunity to sell your home is by pricing it realistically and preparing the house to be ready to sell. Many buyers are searching for value, and they often want a move-in ready home. If you are a buyer, there are great upsides in terms of seller incentives, choice in homes, and the potential to purchase a home below list price.
Having an experienced agent to help you approach the ups and downs of the real estate market is important. Call our team today.
Frequently asked
Yes. According to MLS RealTracs, closed transactions in August were down 8 percent and months of supply rose 8 percent to 5.9, meaning fewer homes sold and homes stayed on the market a little longer.
Over the last 12 months Nashville homeowners saw a gain of 10.5 percent, with the average home price landing at $946,847, even though monthly activity cooled.
It currently tilts toward the buyer. Redfin reported that 30 percent of Nashville listings had a price reduction, buyers have more homes to choose from, and seller incentives are generally available.
Rates have been steady in recent months and hover around 6.5 percent, below the 50-year average of 7.7 percent, according to Mortgage Reports.
Price it realistically and get it ready before it goes on the market. Buyers are searching for value and generally want a move-in ready home.